Original thread for back-story:
https://g80.bimmerpost.com/forums/sh....php?t=1735980
We went out and test drove the Kia Telluride (EX) and the Hyundai Palisade (Limited). Unfortunately there was a Genesis GV80 that had arrived that day at the Hyundai dealership. It was a mistake to let me fiance in that car because it was beautiful, but out of budget. Anyways, we agreed that we like the Kia Telluride over the Hyundai Palisade.
This is the part where I am having some trouble. The Kia dealership is marking their telluride's up $5,000 because they are flying off the lot. I'm not pissed about it because they are at least upfront when they tell you, but based on the mark-up the question of lease vs buy is swimming through my head. I can go elsewhere and buy one for $41,750 or I can lease the same vehicle in Charleston for $46,750 (yes this does not include taxes, fees, etc). The price differential puts the finance cost more relative to the lease cost (monthly payment). Based on sales I am seeing on Carvana, these Tellurides are barely depreciating right now. I saw an EX model go for $40,000 with 15,000 miles hence it only depreciated $1,750. I can also get a really solid interest rate through buying (1.9%).
So do I spend around $20,000 over the next 3 years for nothing to show for it. Or do I buy, with the option to sell down the road since depreciation is holding steady (as of now). I'd estimate the car would we worth somewhere around the low 30s in 3 yrs with 36,000 miles on it. Estimate would be based on the 1 year depreciation I am currently seeing, depreciation will increase as production continues. First year for the tellurides was 2020 hence there is not a ton of market history. If I bought, I'd do a 60month term with the intention to pay in 36. I could see us keeping the car past three years (another reason why I am debating buying), she is a little more picky in which she would see us upgrading by then.
Any assistance would be appreciated, this is the first new car I will have ever purchased hence why I am concerned about path forward. We are financially stable, but we also have quite a few large expenses in the next couple years (wedding, house purchase, .....kids...... lol). Hard planning so many different things for the future.